Looking for advice on tenant who wants to break lease

[Howard H.]

I have a residential tenant who screened very well. Single female with 20+ years same job. 7 years in previous rental home, forced out when the house was sold. She wanted stability and asked for a 5-year lease term. She pays promptly and has presented no adverse issues. Now just shy of 1 year into the lease, she is engaged and wants to break the lease to move in with fiancee into his house. To handle this, I am leaning toward drafting a lease addendum with terms for a cash lease buy-out should she decide to break the lease early. The buy-out would cover all re-lease expenses, 1 month anticipated vacancy, and a fixed fee of some kind. The security deposit would not be allowed to be applied as part of the lease buy-out charge. That deposit or remaining portion would be returned after she vacates. I have no experience with breaking a lease and so am looking for other ideas, approaches or thoughts on my idea for how to handle this. Thank you.  

[Linda S.]

@Howard H.,

Don't make this a bigger deal than it needs to be.   We see turnover as a blessing in disguise, as 99% of the time, that's when we increase the rent rate!   Check your lease-- and see what terms you guys have agreed to as far as terminating the lease, and go by that-- you can't make up rules as stuff comes along, you're locked into your lease terms.   

I'd tell her she will be charged a fee (if applicable in your lease), and then focus on having it rent ready for the next person!  We often do showings when the prior tenant still lives there,  I think of it as free staging.   Also, most good tenants will need at least 30-45 days to move, so it will minimize vacancy.